LyondellBasell (LYB+5.7%) extends yesterday's gains sparked by a Barron's report that the hedge fund favorite was named as one of the chemical companies with most upside potential. But chemical names are strong across the board today, perhaps from speculation that a regulatory ruling could open up a move to an MLP structure: WLK+7.7%, DOW+5.3%, HUN+3%.

A Hedge Fund favorite because it has one of the highest correlations to S&P index with a multiple! It's like having leverage without using derivatives or margin! It generally works well for short and long strategies. I bet that some funds just went bankrupt while other made their nut for the year.The algo bots are going to be a tad bit confused today.